Shares of Canara Bank dropped more than 3.55 per cent to Rs 562.90 on Friday, before recovering to Rs 580.45 on with a total market capitalization of more than Rs 1.05 lakh crore.
Canara Bank recently came out with a healthy set of December quarte results. Its guidance for NIMs was at 2.9-3 per cent, as it sees better cost management and portfolio mix, including the high-yielding RAM segment.
The approval from Canara Bank s board on the stock split will be subject to prior approval of the Reserve Bank of India (RBI) and other statutory or regulatory approvals, the filing said further. Canara Bank shares ended at Rs 522 on the NSE on Tuesday, higher by Rs 1.75 or 0.34% over the previous closing.